The IMF expects the US and China to be by far the most successful at steering their economies through the pandemic, leaving Europe and other emerging markets trailing in their wake.
In its updated forecasts for the global economy, the fund predicts that by 2022 recoveries in the US and China will leave their economies no more than 1.5 per cent smaller than projected before the pandemic.
Other advanced economies will still be 2.5 per cent short of their pre-pandemic path, while emerging economies excluding China will in 2022 be 8 per cent smaller than expected in forecasts issued exactly a year ago.
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